Boeing touts military missile test

(Crain's) -- A new air-launched smart missile being developed by Boeing Co. hit a target the size of a hot tub from 10 miles away in recent tests.

Chicago-based Boeing and its partner, Massachusetts-based Raytheon Co., are competing against Maryland-based Lockheed Martin Corp. to develop a Joint Air-to-Ground Missile to replace several different missiles now carried by Army, Air Force and Marine helicopters and jets.

The missile uses three guidance systems: a laser device, an infrared sensor and radar. The Pentagon reportedly plans to buy tens of thousands of new missiles at a cost of at least $7 billion over the next 25 years.

The Raytheon-Boeing missile hit an eight-foot-square board in its third successful test. Lockheed's tests also have gone well so far.

"This test demonstrates that the combination of Raytheon's guidance section with Boeing's rocket motor, airframe and warhead gives the warfighter a proven, affordable, reliable and accurate solution," said Carl Avila, director of Boeing Advanced Weapons and Missile Systems, in a statement.